Aspira Women’s Health Announces $5.5 Million Registered Direct Offering and Concurrent Private Placement

AUSTIN, Texas, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Aspira Women’s Health Inc. (“Aspira” or the “Company”) (Nasdaq: AWH), a bio-analytical based women’s health company focused on the development of gynecologic disease diagnostic tools, today announced that it has entered into definitive agreements with a single healthcare focused institutional investor alongside participation from Nicole Sandford, CEO of Aspira, as well as certain existing shareholders of the Company for the purchase and sale of 1,571,000 shares of its common stock (or common stock equivalents in lieu thereof) in a registered direct offering and warrants to purchase up to an aggregate of 1,571,000 shares of common stock in a concurrent private placement (together with the registered direct offering, the "Offering") at a combined purchase price of $3.50 per share to the institutional investor and certain existing investors and a purchase price per share of $4.255 per share to the officer of the Company. The warrants to the institutional investor and certain existing investors will have an exercise price of $4.00 per share and the warrants to the officer of the Company will have an exercise price of $4.13 per share, both warrants to the existing shareholders and the officer of the Company will be exercisable beginning six months after issuance and will expire 5 years from the initial exercise date. All of the securities in the Offering are being sold by Aspira.

The closing of the Offering is expected to occur on or about January 26, 2024, subject to the satisfaction of customary closing conditions. The gross proceeds from the Offering are expected to be approximately $5.5 million. The Company intends to use the net proceeds from the Offering for general corporate purposes.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the Offering.

The Offering is being made pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-252267) filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 20, 2021, and declared effective on January 28, 2021. The Offering will be made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A prospectus supplement and accompanying prospectus describing the terms of the proposed Offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained, when available, from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at [phone], or by email at [e-mail].